Solana-based meme coin BONK weathered a risky 24 hours, as vital institutional exercise outlined each the highs and lows of the buying and selling vary.
The token reached $0.000026 and rapidly encountered resistance at that degree, with 4.02 trillion tokens altering palms throughout a noon rejection that set a transparent technical ceiling for the brief time period, in line with CoinDesk Analysis’s technical evaluation knowledge mannequin.
From there, BONK slipped 6% to discover a flooring close to $0.000023, the place 1.07 trillion tokens traded as patrons absorbed the promote stress. This zone has now emerged as a key help degree, examined a number of occasions with out breaking.
BONK subsequently staged a modest restoration, gaining roughly 1% from $0.000024 to $0.00002425. The rebound was fueled by sharp quantity spikes at 10:48 UTC and 10:49 UTC, 21.99 billion and 31.43 billion tokens, respectively, suggesting accumulation from bigger gamers simply above prior resistance.
Merchants now face an outlined battle line: resistance stays fastened at $0.000026, with help anchored at $0.000023. A sustained push above $0.000025 may sign the start of a extra pronounced upward transfer, whereas a break of the decrease certain dangers retesting early-August lows, in line with the mannequin.
BONK’s continued excessive liquidity, even amid current volatility, underscores its place as one of many extra lively tokens within the meme coin sector. Institutional participation has saved worth motion tightly certain, however it has additionally elevated the potential for sudden breakouts ought to order books skinny at key ranges.
Technical Evaluation
- Buying and selling vary: $0.000023–$0.000026 over the 23-hour interval.
- Resistance locked at $0.000026 after 4.02T token promote wall.
- Assist confirmed at $0.000023 with 1.07T tokens traded.
- Value closed at $0.00002448, down 0.92% over the interval.
- Late-session bounce from $0.000024 to $0.00002425 (+1%).
- Quantity spikes at 10:48 UTC (21.99B) and 10:49 UTC (31.43B) counsel accumulation.
- Consolidation zone rising between $0.000024 and $0.000025.
Disclaimer: Components of this text had been generated with the help from AI instruments and reviewed by our editorial workforce to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
